I was wondering what your thoughts are on Societe Generale's New York Office in IBD? What are the best groups, lateral potential, etc...
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
I feel I can give some insight on this topic. Overall, the groups run very lean which can be a good or bad thing. You'll be recognized for doing a good job, but at the same time if you make a mistake, there is no place to hide. You'll be given more meaningful work and will be exposed directly to clients at a much younger age.
Their best groups I would say are Lev Fin, Nat Res, Asset Backed Products. Not so sure about lateral potential or exit opps
Thanks for the response. Can you give me more info on the LevFin group in particular? Looks to be the best experience imo
bump
I used to work there, not in lev finance, but can give you some insight into Soc Gen.
Lev Finance was the most profitable group there, and probably still is. For the past 6+7 years, Soc Gen in the U.S. has been unprofitable, and had to be subsidized by its other locations in the world.
As you can imagine, many MD's from Lev Finance are pissed off because they're doing really well in the middle market Lev Finance space, but are not getting their fair share of bonuses. To quote the CEO of Soc Gen U.S. after an MD asked about when they will change their bonus practices, "Now that's the kind of determination I'm talking about!"
Turn-over amongst juniors is pretty high, so you should look at LinkedIn to see where people have went. However I think the experience that you would get as a full-time employee is hit or miss, as I knew people in IB who would often finish by 7-8pm, and comment on the lack of deal flow. On the bright side, they're still getting decently paid, and first year analysts get 30 days of vacation (and you can use all of them, everyone is pro vacation), so you can have a life and do IB.
If you're looking for an ultra-sexy exit and extremely fantastic deal exposure, SG isn't the place for that.
Thanks for the info. I was wondering if you knew roughly how many people are in the levfin group? Is it split into a sponsors focused group and a TMT group? Would you have any recommendation for the two. Are you still in banking and would lateral ops be pretty decent? When i looked at the salaries submitted for junior bankers at SocGen for NYC, bonuses looked pretty decent, as in all-in comp for analysts between 130-160. Maybe that's gotten better as of late. If possible, lateralling to a US BB could be a consideration
SocGen IB NY (Originally Posted: 02/28/2012)
Given all of their problems would it be a good idea to stay clear of SocGen even for a summer analyst position? Would it at least provide a good experience/recognized name to use for FT recruiting if one is not confident about the bank's prospects and full-time hiring plans? Thanks.
Shit, it's far better than nothing
What other offers do you have, OP?
I know several guys who used to work there. Not the best place to work, but you'll get a solid modeling background that can be leveraged to lateral somewhere else. One guy is an associate at BAML, another is an associate at JPMorgan and the 3rd is an associate at Macquarie so it seems they did alright for themselves after SocGen.
I'd rather stay with SogGen than go to macquarie.
Thanks for the responses, guys. Don't get me wrong, I am very grateful for the offer. I also have offers from a boutique M&A advisory firm, and a BB in risk management. Does anyone else care to share their opinion about SocGen? Thanks again.
Levfin is the strongest group there. They originate and structure all of their deals (all middle market) on their own since SG is a relatively small operation in the US. They don't have coverage teams, meaning levfin owns the models from top to bottom - so great exp for an analyst to leverage as a lateral later on. They laid off half of the team after essentially being closed for business from August - November, despite having strong deal flow until then. I don't know how the SA program works but if you can get to that group, I'd say take it. I wouldn't want to be in M&A, securitization or syndications at SG. Your skillset just wouldn't be as developed at the end of the summer.
I agree with Julian 100%
Heard the same thing. Their LevFin team is quite strong and saw good exits.
Any update on SocGen? How have they been doing in the league tables/comp/view from other banks?
following. Looking at the league tables and earnings report they have been improving significantly.
Whoever recommended securitization at Soc Gen has no idea what they're talking about. They have absolutely no deal flow. I'm in securitization, and I've seen them be a lead structurer only like 2-3 teams over the course of 4 years.
I commented on this thread as an anon earlier, I've seen people from Lev Fin exit into Golub Capital, Apollo and other places. Definitely a good shop. Huge Duke presence on that team. I've seen opening being created and filled during random times of the year to place Duke kids on the team.
Lev Fin at Soc Gen is the best group in IB.
how about the coverage teams
Ut fuga est voluptas qui ut. Maiores eligendi quaerat eius iure rerum facere fugit. Quia consequatur consectetur alias accusamus laudantium sapiente alias.
Ad id laudantium esse vero. Natus et accusantium id nulla omnis maiores qui. Vel deleniti tempora perspiciatis vel omnis.
Consequatur quos quasi amet eum voluptatem assumenda. Ut odit id qui necessitatibus reiciendis voluptatem totam. Impedit amet voluptas voluptatem amet sed excepturi. Ea sed magni in libero. Nulla dolorum quisquam laborum. Eos perspiciatis molestiae harum quasi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Repellendus earum saepe in odio. Et veniam id veritatis sint nulla. Molestiae qui quibusdam cumque et sed. Voluptatem qui laboriosam enim delectus ut veniam sapiente.
Deleniti non maxime consectetur aspernatur quia accusamus et. Illum vel ut voluptatum deleniti voluptatem.